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Capital Improvement Policies <br />PT TRPOSSF <br />To ensure that capital expenditures are well planned and enable the city to replace capital items when <br />needed, without requiring significant fluctuations in property tax levy. <br />c(IPF. <br />All departments and funds are included in the Five -Year Capital Improvement Program (CIP). The CIP <br />identifies the timing and financing of all capital items. <br />PST .Try <br />X All capital improvements shall be made in accordance with an adopted Capital Improvement <br />Program. <br />X The City will develop a Five -Year Plan for capital improvements and update it annually. <br />X The City will enact an annual capital budget based on the multi -year Capital Improvement Plan. <br />Future capital expenditures necessitated by changes in population, changes in real estate <br />development, or changes in economic base will be identified and included in capital budget <br />projections. <br />X The City will coordinate development of the capital improvement budget with development of the <br />operating budget. Future operational costs associated with new capital improvements will be <br />projected and included in operating budget forecasts. <br />X The City will provide ongoing preventative maintenance and upkeep on all its assets at a level <br />adequate to protect the City's capital investment and to minimize future maintenance and <br />replacement costs. <br />X The City will identify the estimated costs and potential funding sources for each capital project <br />proposal before it is submitted to Council for approval. <br />X The City will determine the least costly financing method for all new projects. <br />IMPLEMENTATION <br />1. The Capital Improvement Program has been updated to reflect capital expenditures through 2006. <br />2. All items in the 2002 Budget are programmed in the Capital Improvement Program. <br />II -14 <br />